Zenas BioPharma initiated with a Buy at Guggenheim

Guggenheim initiated coverage of Zenas BioPharma with a Buy rating and $45 price target The company’s lead asset, obexelimab, is a potential best/first-in-class anti-CD19xFcgammaRIIb bifunctional B cell-inhibiting antibody, currently in development in IgG4-related disease, the analyst tells investors in a research note. The firm says that with With shares trading at an enterprise value of $480M, and with a number of clinical catalysts slated to read out over the next 18 months, it sees “significant upside potential from current levels.”